According to Arkham Intelligence, a blockchain analytics firm, a cryptocurrency wallet believed to belong to former US President Donald Trump received several thousand dollars’ worth of TRUMP tokens that have surged to over $1 million in value within six months. The tokens were sent to Trump’s crypto wallet between August and October 2023, initially worth $7,100 but now valued at $1.07 million.
Although the issuance of TRUMP tokens is not directly related to Trump, some speculate on its connection to his ongoing presidential campaign. The tokens were transferred to Trump’s wallet as part of a marketing strategy commonly used by memecoin issuers to draw attention and stimulate buying interest.
It’s observed that the assets within Trump’s crypto wallet are now valued at over $2.5 million, including Ethereum (ETH), Wrapped Ethereum (WETH), and several other tokens, each worth $750,000, with some likely sent unsolicited.
The TRUMP token’s price remained stable after its launch but surged from $0.19 to over $2 following Trump’s primary victories, positioning him as a leading candidate for the 2024 elections. The token now boasts a market value exceeding $85 million.
While there are many Donald Trump-themed memecoins on different blockchains, only the mentioned TRUMP token has managed to build a significant community.